Which of the Following Businesses Is Most Likely to Be

question 72

Multiple Choice

Which of the following businesses is most likely to be organized as an LLP?

• A) a bookstore run by two partners
• B) an international retail chain
• C) an accounting firm run by two partners
• D) a stationery store owned by an individual

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Definitions:

Contributed Capital

Equity that has been provided to a company by its shareholders through the purchase of stock.

Retained Earnings

The portion of a company's profits that is retained and not distributed to shareholders, often reinvested in the business or used to pay off debt.

Intangible Assets

Assets that cannot be seen, touched, or physically measured and are created through time and effort, such as trademarks, patents, and copyrights.

Current Liabilities

Financial obligations or debts of a business that are due to be paid within a year.